The importance of a Will
Why is Will Important
A will is important because it covers is how your assets get distributed. Many dramas have started because of family members fighting over an inheritance.
If you pass away without a will, all of your assets will be distributed according to the Distribution Act 1958. Your wishes or needs of your family members will not be considered!
It could also take quite some time for your assets to be distributed – up to five years. This may pose an issue if you’re the sole breadwinner of your family, or have dependents.
Furthermore, there’s also the chance that your assets might depreciate in the time it takes for your will to be executed.
By having a will, your family members will know how much you have, and where to find it.
You’ll also save them a lot of headache from administering your estate, and dealing with any complications that may arise from that.